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OCTOBER 23 and 24, 2022



PM participates in 'Vande Mataram' sing-along with jawans in Kargil on Diwali

PM Narendra Modi, who is in Kargil celebrating Diwali with Army Jawans, took part in a 'Vande Mataram' sing-along with members of the Armed Forces. PM Modi can be seen clapping and humming the song in a video, while several jawans can be seen playing musical instruments. PM landed in Kargil on Monday to celebrate Diwali with jawans.

ISRO acquires land for new rocket launch site in Tamil Nadu

ISRO has acquired land for a proposed new rocket launch site in Tamil Nadu where a launch pad would be set up. "The design for the launch pad is ready. Once the land comes into our control...we will commence construction," said ISRO chairman S Somanath. The land is at Kulasekarapatnam in Thoothukudi district, about 650 km from Sriharikota.

K'taka government approves 11 projects to generate over 41,000 jobs in state

The Karnataka government has approved 11 development projects which are expected to bring in investment worth over ₹1.74 lakh crore. The new projects are expected to benefit the youth in the state by generating over 41,000 jobs. According to reports, out of 11 projects, eight are going to be related to clean energy.



Russian exports jump over 25% in Jan-Sept

 Russian exports jumped by 25.4 per cent year on year to $431 billion in the first nine months of 2022, a senior official has said.

Imports plummeted by 15.7 per cent in this period to $180 billion, First Deputy Head of Russia's Federal Customs Service Ruslan Davydov told a press conference.

This led to "a record" trade surplus of 251 billion dollars, almost doubling from the number in the first nine months of 2021, he was quoted as saying by Xinhua news agency.

Russia's foreign trade turnover amounted to $611 billion in the first three quarters, up 9.6 per cent year on year, Davydov added.

Rishi Sunak to become first UK Prime Minister of Indian descent

Rishi Sunak has won the race to be leader of the Conservative Party and will become UK's next Prime Minister. His only rival, Penny Mordaunt, conceded and withdrew on Monday. Sunak will become the first UK PM of Indian descent. Earlier, Liz Truss resigned from the post after 45 days in office amid massive economic crisis.

China chip imports fell 12.4% in Sept year-on-year: Govt data

According to official customs data, China's chip imports fell 12.4% in September to 47.6 billion chip units, compared to 54.3 billion units in September 2021. The data was supposed to be released earlier this month but was delayed due to the Communist Party Congress. In the first nine months of 2022, total output was down 10.8%.

PM Modi congratulates Rishi Sunak, calls him 'living bridge' of UK Indians

PM Narendra Modi congratulated Rishi Sunak, who will become the first UK Prime Minister of Indian descent. PM Modi tweeted, "As you become UK PM...I look forward to working closely together on global issues, and implementing Roadmap 2030." He added, "Special Diwali wishes to the 'living bridge' of UK Indians, as we transform our historic ties into a modern partnership."

Kim Jong-un congratulates Xi Jinping for re-election as head of CCP

North Korea's leader Kim Jong-un sent a congratulatory letter to Chinese President Xi Jinping upon the latter's re-election as the Chinese Communist Party's (CCP) General secretary, North Korean state media reported. In his message, Kim Jong-un asserted that he would work alongside Xi so that the two leaders can continue to "powerfully propel the socialist cause" in their respective countries.

Alibaba, Tencent shares stumble as Xi reshuffles China's politburo

As Xi Jinping began his third term as China's leader, he pushed market reformists from the politburo standing committee, leading to stocks of companies such as Alibaba and Tencent plunging 12% and 10% respectively. The Hang Seng stock index in Hong Kong was also the lowest since 2009 as it crashed by 6.2%. Investors fear tightened scrutiny of private companies.

China's GDP grows by 3.9% Y-o-Y in July-September quarter

The GDP of China showed a 3.9% year-on-year growth in the July-September quarter, amid a raft of government measure. However, domestic demand declined towards the end of the quarter due to persistent COVID-19 restrictions, a prolonged property slump and global recession risks. In the nine months to September, China's inflation-adjusted urban per capita consumption fell 0.2% on year.

Ugandan capital's Ebola tally reaches 14 with 9 new confirmed cases

Nine more people tested positive for Ebola in Uganda's capital Kampala on Sunday, the Ugandan Health Ministry said on Monday, taking the city's number of confirmed cases reported since Saturday to 14. All the patients who have tested positive were in isolation when they became symptomatic, the ministry said. The current Ebola outbreak in Uganda began in September.

French court approves €238 million Credit Suisse settlement

A French court approved a €238 million (₹19.37 lakh crore) settlement between Credit Suisse Group and the French financial prosecution office to settle a tax fraud and money laundering case. Under the terms of the agreement, the Swiss bank makes no admission of guilt. The settlement will see the bank pay a fine of €123 million to the state.



Reliance shares rise after demerger announcement

short by Ambarish Awale / 07:30 pm on 24 Oct 2022,Monday

Shares of Reliance Industries rose by 0.8% at ₹2,483.6 during the special muhurat trading session on October 24 after the company said that it will demerge and list its financial services business under Jio Financial Services. On October 21, RIL announced that shareholders will get one share of Jio Financial Services for each share they held in the company.

Sensex jumps 525 points, Nifty ends above 17,700 during muhurat trading

The BSE and NSE on Monday conducted a one-hour special muhurat trading session from 6:15 pm, marking the beginning of Samvat 2079 - the Hindu calendar year that starts on Diwali. While the Sensex jumped 525 points to close at 59,832, the Nifty settled at 17,731 after rising 155 points. The gains were driven by the banking and financial stocks.

Jindal Group to enter lending business with ₹400 crore investment

Gaurav Sachdeva, the Chief Executive Officer of JSW One Platforms (JSWOP), said the JSW group will enter the lending space with an investment of up to ₹400 crore in a non-bank finance company (NBFC). The NBFC will be a subsidiary of JSWOP. Sachdeva said the NBFC can help other JSW companies like cement, steel, or paints by offering financing solutions.

Kiran Mazumdar-Shaw's husband John Shaw passes away

Biocon's Executive Chairperson Kiran Mazumdar-Shaw's husband John Shaw passed away on Monday. He was the former Vice Chairman of Biocon. John, a member of Biocon's board of directors since 1999, was a foreign promoter and on the advisory board of various Biocon group companies, according to the company's website. ( OCTOBER 23 AND 24, 2022)



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